Thursday, February 22, 2018

1 in 5 Americans have more debt than Savings

More Debt than Savings

This is the consumption society combined with the destruction of the wage base.

Debt The First 5,000 Years - Book Review

Book Review
By Brent Herrick

This is a slow read because of course it is economics as well as sociology, anthropology,  and probably a number of other sciences.  Give yourself time and you'll get a life changing outlook on the origins of money, debt, and how societies work.

Regarding the creation of credit money instruments I quote the author, "If history holds true, an age of virtual money should mean a movement away from war, empire-building, slavery, and debt peonage (wages or otherwise), and toward the creation of some sort of overarching institutions, global in scale, to protect debtors.  What we have seen so far is the opposite (Pg 368)."

What this means is that war still is the engine of debt creation and a global empire like the United States will have to eventually face the reality that to maintain it will become unsustainable without more wars which is also a self defeating action.  China appears slated to take our place in the form of controlling the debt that we have issued and the question to be answered is when it will happen or will a war change the whole equation.   The USA may end up as a vassal of China if trends continue and the author explains that in the long game of power China has followed a long and traditional pattern of supplying wealth to first protect itself from invasion but to eventually drive those dependent states into subservience.  We here in the US seem to be following right along.

Most important in this book is the understanding you gain that maybe cryptocurrencies might be the answer to disable the debt/war formula that has governed credit money since the beginning.  It remains to be proven of course and one thing in the favor of some specific crypto currencies is that they are defined by a finite limit of units thus actually becoming a deflationary measure of debt and exchange.

***** Five Stars - Highly Recommend

Retirement News: One in three have not saved for retirement, Federal Retirement, HSAs for health costs in retirement

one in three

It's hard to plan for the future when your present is tenuous and a struggle.  Most who do save find an emergency situation forces them to clean out their savings.  It is best to have an untouchable plan, one where you consider it out of reach and it also not attackable by lawsuits such as an IRA or 401k.

A good point made in this article is that "it's not what you make but what you save."

I know many examples of this wisdom and it is true.  Find a way to set aside something for the future and if possible put it in a tax advantaged retirement investing account.

Federal Retirement

HSAs for health costs in retirement

Matching Turbocharges US retirements

Adjust your spending in retirement

7 English Speaking Retirement Spots

Earnhardt Enjoying Retirement

Earnhardt Enjoying Retirement

It is probably much easier to enjoy when you are financially strong and stable as he must be.  For the rest of us it means knowing your cash flow requirements and meeting them.

Brain Health in Retirement and old age


Keeping socially connected appears to be the most important aspect of maintaining your mental acuity.

Monday, February 19, 2018

Digital Money: No Cash Sweden, Bitcoin Wall Street,

No Cash Signs Everywhere - Sweden Worried

It seems to be coming everywhere.  This isn't the death of money, but rather just a change from physical to electronic.

Wall Street Helping Bitcoin

Nocoiners - problem

Bottom Found on Bitcoin